On 26 November, the National Assembly passed a new
Law on Investment 
(LOI) and a new Law on Enterprises (LOE).

These new laws will come into effect on 1
July 2015. While the enacted 
versions have not yet been released, based on the
last versions submitted to 
the National Assembly for voting which were made
available to us, key 
changes include:

• Companies are now allowed to engage in all
business activities which are 
not prohibited by law. Prohibited businesses are
listed in the LOI and 
include, for example, trading of wild and rare
animals, drug-related 
chemicals, etc. Under the LOE, it appears that
companies must still 
indicate their business activities in their
establishment application 
documents submitted to the licensing authorities,
but the business 
activities will not then be stated in the
companies’ investment 
certificates/business registration certificates.

• The LOI sets out 267 conditional sectors,
investment in which is subject to specific requirements. This 
should mean that other than in these 267
conditional sectors, there should not be any other 
conditions/operational licence requirements
imposed by other government authorities.

• The regulations with respect to company seals
have been relaxed. Companies can now decide the form, 
content and number of seals they may have. Seal
affixing shall only be required if the law specifically 
states this requirement.

• There are some changes to the licensing
procedures for establishing foreign invested companies or 
amending such companies’ investment certificates.
Existing foreign invested companies are allowed to 
continue to operate under their existing
investment certificates and are not required to re-register under 
the new LOE/LOI.

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